Barseghyan, Levon; DiCecio, Riccardo - Federal Reserve Bank of St. Louis - 2009
Meeting Economic Growth Workshop for their feedback. We are indebted to L. Alfaro, A.
Charlton, and F. Kanczuk for sharing …/legal fees
and a nonregulatory component (i.e., securing a physical location, initial capital investment,
advertisement, etc …
to operate. We show that the model aggregates into a variant of the neoclassical growth
model with constant returns to …